GVK Power to build airports in Bali, Java

Mumbai/Mangalore: Hyderabad-based infrastructure development company GVK Power and Infrastructure (GVKPIL), which also runs the airports at Mumbai and Bangalore, will develop international airports at Bali and Java in Indonesia.
This will be the company's first successful agreement with a foreign government for an international project after its failed attempt for modernisation and upgradation of the Male airport in Maldives last year. The company signed a memorandum of understanding (MoU) with the Indonesian government on Tuesday for execution of these projects right from conception to design to operating and managing these airports with an exclusivity clause.
"The Indonesian airport projects are strategically the next move for GVK. Java and Bali are growing very fast. We have to get a feasibility study done for traffic, investment and terms to be submitted to the Indonesian government," GV Krishna Reddy, chairman, GVKPIL, told ET.
He, however, did not gives any specific details outlining the project but it is estimated that the group will pump in close to $3billion to $4 billion in the development of these greenfield projects.
26/01/11 Economic Times

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Categories: Airports Jan 2011, Foreign Jan 2011, New Jan 2011